Rupee falls on dollar demand

Business

Religare

Posted By: Religare

Published: Monday, March 12, 2012, 23:31 [IST]

Subscribe to GoodReturns

The Indian rupee fell against US dollar on Monday as the fresh demand for the U.S. currency from importers stepped up dollar purchases for making payments, putting pressure on the rupee. Rupee future for March 2012 contract falls as much as 0.05 paise to Rs. 50.1500 per dollar on the National Stock Exchange (NSE) at 12.02pm.

At the Chicago Mercantile Exchange (CME), EURUSD future for March 2012 contract traded at US$1.3095 per euro (USD appreciated by 0.21 per cent against EUR) and GBPUSD future for March 2012 contract traded at US$1.5667 per pound (USD appreciated by 0.05 per cent against GBP) at 12.04 PM today.

S&P CNX NIFTY, at NSE, was trading at 5,342.75, up by 0.17 per cent, after opening at 5,420.10 against the previous closing of 5,333.55. It touched the intra-day high of 5,421.90 till the trading. (At 12.01 PM today).

At NSE, USDINR for March 2012 contract traded at Rs. 50.1500 per dollar, rupee depreciated by 0.05 paise, after opening at Rs. 50.0325 against the previous closing price of Rs. 50.0950. It fell to Rs. 50.0325 per dollar with a business volume of 690193 lots till the trading. (At 12.02 PM today).